Modest price changes in Trinidad

Market activity ended on Tuesday, resulting in an equal number of stocks rising and falling at the close of trading, with the market declining after trading 39 percent fewer shares, at 19 percent greater value than on Monday, on the Trinidad and Tobago Stock Exchange.
At the close, 13 securities traded compared to 14 on Monday, with three rising, three declining and seven ending unchanged. The Composite Index fell 1.05 points to 1,419.70, the All T&T Index fell 0.42 points to close at 1,920.27 and the Cross-Listed Index lost 0.24 points to settle at 123.91.
A total of, 479,284 shares traded for $22,643,326 compared to 781,483 units at $19,006,735 on Monday. An average of 36,868 units traded at $1,741,794 compared to 55,820 at $1,357,624 on Monday, with trading month to date averaging 26,607 units at $448,235 versus 25,773 units at $343,133. The average trade for August amounts to 16,186 units at $226,311.
Investor’s Choice bid-offer indicator shows two stocks ended with the bid higher than their last selling prices and two stocks with lower offers.
At the close, Angostura Holdings remained at $17.10, with 16 shares crossing the market, Clico Investment Fund traded 4,294 units at $26.80, Endeavour Holdings ended at $7.01 in an exchange of 2,796 stocks. First Citizens Bank gained 4 cents to close at $50.35 after with 800 stock units cleared the market, FirstCaribbean International Bank dropped 5 cents to $6.60 in exchanging 15,050 stocks, JMMB Group close at $2.22, with 19,000 shares changing hands. L.J. Williams B share advanced 15 cents to $1.50 while exchanging 150 units, Massy Holdings remained at $82.02, with 100,585 stock units changing hands, NCB Financial Group traded 1,000 shares at $8.01. Republic Financial Holdings fell 1 cent to $135.45 after exchanging 20 stock units, Scotiabank finished trading 230,769 units at $59, Trinidad & Tobago NGL rallied 1 cent to $16.50 with the swapping of 3,001 shares and Trinidad Cement declined 1 cent to $3.90 after trading 101,803 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Tourist arrivals eyeing 80% of 2019 numbers

Two and a half months after the end of June the Jamaica Tourist Board (JTB) is just reporting stopover arrivals for that month, that came in at 166,046 visitors, this compares with 160,000 this publication suggested in its July report.
By now the public ought to know how many visitors came into the country for July and possibly August. The long delay in reporting the data is unacceptable. The JTB needs to switch the manner of reporting by releasing the arrival numbers shortly after each month finishes and then release the full analysis at a later time.
At the same time, ICInsider.com had indicated that the numbers for July were set to end up around 170,000, but based on the outturn for June it is now likely to be 180,000 stopover arrivals or 67 percent of July 2019 arrivals, that saw 270,462 stopover arrivals. Arrivals for last year were just 41,941 in July and 43,813 in August shortly after the country reopened its borders. The latest available data suggest that August arrivals will be around 170,000 or 79 percent of the 214,780 stopover arrivals in 2019.
Tourism is one of Jamaica’s major earners and employers of labour.  A lot rides on the fortunes of this sector and Jamaicans need timely and up to date information for planning and decision making. It cannot be that the JTB sits on valuable information while the rest of the society has to wait at their pleasure to release the data.

Dominican Republic expects 4.8m tourists

Growth in tourism expected in 2021

The Dominican Republic will receive 4,840,376 tourists by the end of this year, just 75 percent of the 6,446,036 non-resident foreigners who arrived on the island in 2019, the country’s Minister of Tourism stated.
On Wednesday, September 8th, the Minister of Tourism David Collado said that between January and August 2021, 2.94 million tourists arrived in the country and the projected that, from October to December, “if everything continues normally within the pandemic,” a further 1.55 million visitors will arrive in the Dominican Republic.
“We are going to end the year at 4,840,376 non-resident arrivals, which is a number that we could never imagine we would be able to have in 2021. We are giving clear signals that tourism is recovering in a sustainable way in the Dominican Republic.” Tourism Analytics reported the information.

Lumber continues to drives Junior Market

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Lumber Depot continued to command the lead volume on the Junior Market for the third day when closed on Monday, accounting for 4.8 million units or 60 percent of the shares exchanged for the day that saw investors transferring 42 percent more units for 64 percent greater value than on Friday.

Lumber Depot dominated trading volume.

Market activity led to 36 securities trading compared to 33 on Friday and ended with 13 rising, 13 declining and 10 closing unchanged.  At the close, the Junior Market Index rallied 25.89 points to 3,280.97. The PE Ratio, a measure used to compute appropriate stock values, averages 11.3 based on ICInsider.com’s 2021-22 earnings forecast.
A total of 7,959,396 shares traded for $26,899,270 compared t0  5,600,351 units at $16,401,398 on Friday. Future Energy Source closed trading, with the second highest volume, with 10.4 percent of the day’s trade for 824,499 units and Fontana controlled 9.6 percent market share with an exchange of 764,811 units after investors picked up the company’s stock following the release of positive full year results after trading on Friday.
Trading averaged 221,094 units at $747,202 in contrast to 169,708 at $497,012 on Friday and month to date averages 231,021 units at $658,292, compared to 232,225 units at $647,515 on Friday. August closed with an average of 464,471 units at $1,258,652.
Investor’s Choice bid-offer indicator shows five stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Blue Power dropped 20 cents to $3.30 with investors switching ownership of 150 shares, Caribbean Assurance Brokers rose 9 cents to $1.79 with 6,150 stock units traded, Caribbean Cream popped 30 cents to $6.40 with an exchange of 1,989 units. Caribbean Flavours rallied 6 cents to $1.96, with 10,202 stocks changing hands, Express Catering fell 10 cents to $4.80 with a transfer of 10,000 shares, Fontana climbed 42 cents to $6.30, with 764,811 units passing through the market. Shortly after trading opened the stock triggered the circuit breaker of the exchange and traded up to a 52 weeks’ intraday high of $7.31, before pulling back at the close. Fosrich rose 8 cents to $8.18 with 300 stock units traded, Future Energy Source lost 9 cents to close at $2.42 with an exchange of 824,499 shares, General Accident shed 25 cents to end at $5.30 with 60,000 stocks changing hands. GWest Corporation advanced 13 cents to $1.14 with a transfer of 17,393 stock units, Honey Bun rallied 12 cents to $8.60 with investors switching ownership of 7,451 shares, Indies Pharma fell 31 cents to $3.11 with 326,732 stocks traded. Jetcon Corporation gained 8 cents to settle at $1 with an exchange of 5,952 units, Lasco Distributors advanced 13 cents to $3.90 with 5,350 stock units changing hands, Limners and Bards increased 12 cents to $3.74 with a transfer of 221,001 shares. Lumber Depot shed 11 cents to close at $3.07 after trading 4,795,471 units, Mailpac Group fell 15 cents to $3.51 with 193,419 stocks traded, Medical Disposables dipped 16 cents to $4.45 with 74,483 stock units changing hands. Paramount Trading declined 14 cents to $1.01 with a transfer of 212,785 units, SSL Venture lost 14 cents to close at 64 cents with investors switching ownership of 20,000 stocks and Stationery and Office Supplies spiked $1.27 to $7.02 with 3,000 units crossing the exchange.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Mild gains for JSE Main market

Market activity ended on Monday, with the volume of shares trading rising 33 percent and the value of stocks trading surging 541 percent over Friday trades on the Jamaica Stock Exchange Main Market, with rising stocks lagged those declining on a one to two ratio.
The All Jamaican Composite Index rose 42.14 points to 449,050.56, the Main Index gained 289.77 points to close at 408,751.39 and the JSE Financial Index lost 0.16 points to settle at 99.20.
Trading touched 47 securities compared to 44 on Friday, with 12 stocks rising, 23 declining and 12 ending unchanged.
The PE Ratio, a measure used in computing appropriate stock values, averages 15.6 based on ICInsider.com’s forecast of 2021-22 earnings.
The market closed with 17,909,584 shares trading for $837,730,261 up from 13,470,929 units at $130,674,709 on Friday. NCB Financial accounted for 25 percent of total volume, with 4.47 million shares followed by Transjamaican Highway 19.6 percent, with 3.52 million units, Wigton Windfarm contributed 17.9 percent with 3.20 million units, Barita Investments 13.3 percent after trading 2.38 million units and Sagicor Select Financial Fund 9.1 percent with 1.63 million shares.
Trading averages 381,055 units at $17,824,048 compared to 306,157 shares at $2,969,880 on Friday and month to date, an average of 419,775 units at $4,357,469 compared to 424,359 units at $2,763,188 on Friday. August ended with an average of 480,039 units at $8,561,549.
Investor’s Choice bid-offer indicator shows 15 stocks that ended with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments dipped 50 cents to $90, trading 2,376,367 shares, Eppley shed $1.40 in closing at $40 while exchanging 6,326 stock units, Eppley Caribbean Property Fund dropped $7.30 to $37.65 in an exchange of 4,330 units. Guardian Holdings lost $2 to end at $607 in trading 551 stocks, Jamaica Broilers shed $3.27 to $30.03 with an exchange of 52,057 shares, Jamaica Producers dropped 30 cents to $21.70 after exchanging 14,688 stock units. JMMB Group lost 98 cents in closing at $35.52 in exchanging 32,383 units, Kingston Wharves climbed 50 cents to $48 in switching ownership of 2,021 stocks, NCB Financial shed $1 to $129, with 4,471,600 shares clearing the market. PanJam Investment fell $2 to $62 with the swapping of 13,958 stocks, Proven Investments declined 49 cents in closing at $33.01, with 12,940 units changing hands, Scotia Group fell 95 cents to $38.55 after trading 42,199 stock units. Supreme Ventures spiked 90 cents to $19, with 42,264 shares crossing the market and Sygnus Credit Investments advanced 63 cents to $15.79 after 88,609 stock units crossed the exchange.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

More slippage for JSE USD market

Trading ended on Monday, with the volume of shares changing hands falling 33 percent after the value fell 37 percent below Friday’s trades, on the Jamaica Stock Exchange US dollar market, resulting in an even number of stocks rising and falling and the market index slipping 4.4 percent for the year to date.
Trading ended with five securities changing hands, compared to seven on Friday with prices of two stocks rising, two declining and one remaining unchanged.
The US Denominated Equities Index lost 4.85 points to end at 178.19. The PE Ratio, a measure that computes appropriate stock values, averages 11.3 based on ICInsider.com’s forecast of 2021-22 earnings.
Overall, 329,386 shares traded for US$32,977 compared to 490,246 units at US$52,340 on Friday. Trading averaged 65,877 units at US$6,595 compared to 70,035 shares at US$7,477 on Friday, with the month to date averaging 30,966 shares at US$7,093 versus 26,999 units at US$7,149 on Friday. August ended with an average of 210,413 units for US$12,959.
Investor’s Choice bid-offer indicator shows no stock ending with the bid higher than the last selling price and one stock with a lower offer.
At the close, First Rock Capital rallied 0.2 of a cent to 7 US cents after trading 566 shares, Proven Investments lost 1.86 cents to end at 22.14 US cents, with 113,357 stocks clearing the market, Sygnus Credit Investments US$ share remained at 12.5 US cents after 20,804 units crossed the market and Transjamaican Highway declined 0.07 of a cent to 0.81 US cents with the swapping of 190,966 stock units.
In the preference segment JMMB Group 6% climbed 1 cent to US$1.01, with 3,693 stock units changing hands.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Mixed weekly start for T&TSE

Market activity ended on Monday, after trading 439 percent more shares, with 486 percent greater value than on Friday, resulting in more stocks rising than falling, with the market declining the close of trading on the Trinidad and Tobago Stock Exchange.
At the close, 14 securities traded compared to 16 on Friday, with five stocks rising, three declining and six remaining unchanged.
The Composite Index fell 4.84 points to 1,420.75, the All T&T Index rose 2.45 points to 1,920.69 and the Cross-Listed Index fell 1.77 points to close at 124.15.
A total of, 781,483 shares traded, for $19,006,735 up strongly from 144,939 units at $3,242,385 on Friday. An average of 55,820 units traded at $1,357,624 compared to 9,059 shares at $202,649 on Friday and month to date averages 25,773 units at $343,133 versus 22,892 units at $245,853. The average trade for August ended at 16,186 units at $226,311.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Agostini’s rose $1.39 to $24.40, trading 116 shares, Angostura Holdings remained at $17.10 with an exchange of 598 stock units, Clico Investment Fund traded 855 stocks at $26.80. First Citizens Bank popped 1 cent to $50.31 in an exchange of 854 units, GraceKennedy edged 1 cent higher to $6.26, with 491,867 units crossing the market, JMMB Group remained at $2.22 after 52,650 stock units crossed the market. Massy Holdings lost 8 cents to end at $82.02 after clearing the market of 100,375 shares, NCB Financial Group declined 24 cents to $8.01, with 2,628 stocks changing hands, Republic Financial Holdings popped 1 cent to $135.46 in exchanging 195 shares. Scotiabank fell 2 cents to $59 with the swapping of 123,818 units, Trinidad & Tobago NGL increased 4 cents to $16.49 in trading 4,591 stocks, Trinidad Cement remained at $3.91 trading 2,700 stock units. Unilever Caribbean had a switch in ownership of 148 units at $16.40 and West Indian Tobacco remained at $31 while exchanging 88 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

tTech in, Jetcon out of ICTOP10

In a week when the Junior Market slipped just one percent after 32 points fall and the Main Market nearly 4,000 points for a fall of just under one percent, there was little change to the ICTOP10 listings, but change there was.
Jetcon Corporation came into the TOP10 in the prior week and enjoyed a modest pickup from 91 cents and is overtaken by tTech after the price fell from $4.70 last week to $4.20 this past week.
The highlights for this past week are Future Energy Source, Sygnus Credit Investments, after posting full year profit, Radio Jamaica, with Lumber Depot coming into focus,  Fontana, Scotia Group and Jamaica Broilers that all released quarterly results with differing outcomes.
Following the release of outstanding first quarter and full year results last week, Sygnus Credit Investments announced a dividend of 0.262 of a US cent payable on October 15, but the stock price pulled back from $16.30 last week to $15.16. Radio Jamaica made some recovery to close the week at $3.58, up from $3.17. The company also announced a 2 cents dividend to be paid in mid-October, but the stocks appear to stay below $4 for a while, with demand currently weak above $3.50.
Elsewhere, Future Energy Source, a former ICInsider.com BUY RATED stock that underwent a sharp pullback last week to $2.05 rose this past week to $2.51 as buying interest remains strong. Lumber Depot sits just below the ICTOP10 Junior Market stocks, after posting strong first quarter results that rose 140 percent over the 2020 first quarter, with ICInsider.com projecting earnings now at 35 cents per share, up from 27 cents previously, for the current year and the potential for the price to double into early 2022. Fontana reported increased earnings of $512 million, up from $277 million with earnings per share of 41 cents, just 4 cents below ICInsider.com forecast. Jamaica Broilers posted lower first quarter profit of $275 million, down from $383 million as the Jamaican and Haitian segments posted lower profits, but the USA segment enjoyed an 84 percent jump.  Scotia Group reported profit of $2.8 billion an increase of 81 percent over the depressed 2020 third quarter and slightly more than the $2.7 billion generated in the April quarter, the group seems on target to earn around $3.50 per share for the year.
The top three Main Market stocks are, Berger Paints followed by JMMB Group and Guardian Holdings, with expected gains of 202 to 290 percent, versus last weeks’ 209 to 286 percent.
The top three stocks in the Junior Market are Elite Diagnostic, followed by Medical Disposables and General Accident. All three have the potential to gain between 224 percent and 291 percent, compared to 233 and 275 percent last week.
This past week, the average gains projected for the Junior Market rose from 198 percent to 209 percent and Main Market stocks moved from 173 percent to 170 percent.
The Junior Market closed the week with an average PE of 11.3 based on ICInsider.com’s 2021-22 earnings and currently trades well below the target of 20 and the historical average of 17 for the period to March this year based on 2020 earnings. The TOP 10 trades at a PE of 6.6, with a 42 percent discount to that market’s PE and the potential to rise 77 percent to March next year, based on an average PE of 20.
The JSE Main Market ended the week with an overall PE of 16, a little distance from 19 the market ended at in March, suggesting a 19 percent rise at a PE of 19 and 25 percent at a PE of 20 from now to March 2022. The Main Market TOP 10 trades at a PE of 7.7, with a 52 percent discount to the PE of that market, well off the potential of 20.
ICTOP10 stocks are not intended to be a selection of the best stocks in the market but are most likely to be the best winners within a fifteen-month period. ICInsider.com ranks stocks to filter out the bigger winners from the rest, allowing investors to focus on potentially huge winners, helping to keep out emotional attachments to stocks that often result in costly mistakes being made.  IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on likely increase for each company, considering the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in weekly movements in and out of the lists. Revisions to earnings per share are ongoing, based on receipt of new information.

Persons who compiled this report may have an interest in securities commented on in this report.

Bright profit spots but cloudy elsewhere

A number of listed companies recently posted results for the second quarter of 2021, with some recording a strong rise in revenues and outstanding profits or lower losses than in 2020 and a few with lower profits.
Fontana had a good year to June and for the June quarter. The Junior Market listed company reported profit that surged 85 percent for the year to June of $512 million, with earnings per share of 41 cents, up from a profit of $277 million in 2020, with revenues rising 14 percent to $5.15 billion from $4.5 billion in 2020.
Blue Power suffered a reversal in fortunes, with a suspension of exports of soaps to Caricom, following a decision of the Jamaica Government to stop issuing Certificates of Origin for soaps manufactured in Jamaica, using imported soap noodles.
For the quarter to July, total revenues fell 23 percent from $150 million generated in 2020 to $116 million, leading to profits from operations dropping 62 percent to $8 million, from $21 million in the previous year, but gains on sales of investments of $26 million and other income, resulted in after tax profit of $46 million.
Jamaica Broilers posted revenues that surged 32 percent to $17.6 billion from $12.5 billion in 2020 for the first quarter to July 2021 but profit of $275 million dropped 28 percent from $383 million in 2020, as the Jamaican and Haitian segments posted lower profits for the quarter as the USA segment enjoyed a 84 percent jump.
Revenues at KLE Group recovered from just $7.8 million in the June quarter in 2020 to $38 million this year, with the half year returning revenues of $73 million versus $80.5 million in 2020, with losses showing slight improvement to $18 million for the quarter from $24.6 million in 2020 and from a loss of $43.7 million in 2020 half year to $40 million in 2021.

Scotia Group

Revenues at Lumber Depot increased 16 percent to $420 million in the  July quarter, this year, from $361 million in 2020, helping to drive profits 140 percent higher to $71.8 million, from $29.9 million in 2020. The strong increase resulted from a surge in gross profit margin from 18.7 percent in 2020 to 24.6 percent in the 2021 July quarter and contributed $26 million to the $42 million of increased profit.
Scotia Group reported a profit of $2.8 billion, an increase of 81 percent over the depressed 2020 third quarter and slightly more than the $2.7 billion generated in the April quarter. Profit for the nine months jumped 31 percent from $5.6 billion to $7.3 billion as expected credit loss provision fell sharply from $5.3 billion in 2020 to $1.99 billion for the nine months to July, thus negating a fall in interest income and increased operating expenses and taxation.

Lumber led trading for second day

Lumber Depot led trading on Friday, with the highest volume for the day, following the large trade in the stock on Thursday that followed the release of the first quarter results, with a 140 rise in profit, with the overall volume of stocks trading falling 83 percent, with the value falling 82 percent from Thursday on the Jamaica Stock Exchange Junior Market.
Market activity led to 33 securities trading down from 38 on Thursday, with 13 rising, 11 declining and nine, closing unchanged.
At the close, the Junior Market Index popped 5.56 points to 3,255.08 and the PE Ratio, a measure used to compute appropriate stock values averages, 11.2 based on ICInsider.com’s 2021-22 earnings forecast.
A total of 5,600,351 shares changing hands for $16,401,398 down from 31,088,441 units at $95,481,815 on Thursday. Lumber Depot led trading with 43.6 percent of total volume after an exchange of 2.44 million shares followed by Future Energy Source 22.8 percent, with 1.28 million units and Caribbean Flavours 6.2 percent, with 350,000 shares.
Trading averaged 169,708 units at $497,012 down from 818,117 at $2,512,679 on Thursday and month to date, an average of 232,225 units at $647,515, down from 240,039 units at $666,328 on Thursday. August closed with an average of 464,471 units at $1,258,652.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Access Financial popped 49 cents to close at $21.49 in an exchange of 697 shares, Blue Power rose 20 cents to $3.50, with 90,012 units changing hands. Cargo Handlers declined 5 cents to $7.60 after 25,059 stock units crossed the market, Caribbean Assurance Brokers dipped 5 cents to $1.70, with 47,642 shares switching owners, Caribbean Cream lost 50 cents to end at $6.10 while exchanging just 515 stocks. Consolidated Bakeries increased 7 cents to $1.76 with an exchange of 3,926 units, Derrimon Trading rose 9 cents to $2.34 after exchanging 218,780 stock units, Fontana shed 22 cents to $5.88 with the swapping of 59,024 shares. Fosrich fell 6 cents to $8.10 after 44,000 units changed hands, General Accident gained 18 cents in closing at $5.55, after 7,094 stocks crossed the exchange. Honey Bun fell 22 cents to $8.48 in trading 26,906 stock units, Indies Pharma lost 8 cents to close at $3.42 in exchanging 4,280 units, Jamaican Teas rallied 5 cents to $3.79 with an exchange of 20,170 stock units, Jetcon Corporation dropped 8 cents in closing at 92 cents after exchanging 140,280 shares. Lasco Distributors shed 23 cents to end at $3.77, with 105,089 units crossing the exchange, Lasco Manufacturing increased 14 cents to $4.96 after 5,704 stocks changed hands, Limners and Bards advanced 42 cents to $3.62, with 53,305 stocks crossing the market. Lumber Depot popped 2 cents to $3.18 while exchanging 2,440,430 units as a major shareholder seems to be offloading stocks and Main Event climbed 15 cents in closing at $4.20 in trading 11,789 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.